Papa John’s CEO John Schnatter announced today that he would be stepping down.
Schnatter, who founded the pizza chain in 1984, will remain as chairman of the board, but will be replaced as CEO by the company President, Steve Ritchie. The decision will take effect January 1st.
Schnatter has been one of the last CEOs who also act as their brand’s advertising pitchman, a list that once included Col. Harland Sanders for Kentucky Fried Chicken and Dave Thomas of Wendy’s. By stressing that Papa John’s had better ingredients and a better tasting product, he was able to turn the burgeoning chain into a national force against giants like Dominos and Pizza Hut.
The company, which has more than 5,000 locations worldwide, said in a statement that Schnatter will continue to “pursue his personal passion for entrepreneurship, leadership development and education.”
Sources: Erika Walton, USAtoday.com
Photo credits: Sportingnews.com